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He may not have won Britain's Got Talent 2011 but Ronan Parke is still set to rake it in with a £1 million recording contract with Simon Cowell's Syco label. According to News Of The World Cowell had always planned to sign the youngster, regardless of last night's results.

Despite being the 1/9 favourite just before the result was revealed, 12-year-old Ronan was pipped to the post by 24-year-old singer Jai McDowall.

A source blamed the upset on claims of fixing which were spread on the internet this week. "Sadly, the result had nothing to do with Ronan's talent," the insider told the newspaper. "A lot of people believed the completely false smears on the internet and wanted to punish Simon as a result. The public are against him at the moment, this was their revenge."

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However despite losing out on the top spot in the competition, Ronan will still get a record deal with Simon Cowell's label, similar to 11-year-old Jackie Evancho who performed on last night's final.

"Simon believes young stars like Jackie and Ronan are the way for him to make some serious money because Bieber has changed the entire music industry," an industry insider told the newspaper.

They continued: "If the deal goes ahead, he wants to take Ronan to America in the same way that he has brought Jackie here.

"He will be the most successful BGT winner ever and the most successful British child star ever. He'll be bigger than Bieber. I'd take him straight to Hollywood, straight to Disney."

Ronan Parke and Jai McDowall will both take part in the Britain's Got Talent 2011 live tour starts later this month.